MURPHY CONTINUES TRANSFORMATION WITH STRATEGIC DEEP WATER, OIL-WEIGHTED GULF OF MEXICO ACQUISITION APRIL 23, 2019 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER MURPHY OIL CORPORATION w w w .m u rphyoi l corp.com N YSE: M U R 1
Transaction Overview Gulf of Mexico Deep Water Acquisition Transaction Summary Producing Assets from LLOG Exploration Offshore, L.L.C. Purchase Price 1.375 BN and LLOG Bluewater Holdings, L.L.C., (LLOG) Additional Contingent…
Strengthening Gulf of Mexico Position Acquiring 26 Gulf of Mexico Blocks, 7 Producing Fields, 4 Development Projects Murphys Key US Gulf of Mexico Assets Post-Transaction Producing Assets Breton Sound 25 Asset Operator Murphy WI…
Increasing Oil-Weighting of Operated Production & Reserves Adds 32 35 MBOEPD on Annualized Basis Murphy Murphy for FY 2019, Increasing Murphys Production Transaction Metrics Pre-Transaction Post-Transaction in Gulf of Mexico to 85…
Continuing to Execute on Our Strategy Strengthening Offshore Portfolio at Attractive Acquisition Costs Develop DIFFERENTIATED PERSPECTIVES In Acquiring Repeatable Low-Cost Tiebacks Underexplored Basins & Plays Producing From Well…
Strategic Plan For Sources & Uses of Cash 2019 Transactions & Use of Proceeds 2019 2023 Strategic Plan 2.3 BN 2.3 BN 2.1 BN 2.2 BN Share Repurchase Auth. Dividends 500 MM 780 MM RCF Payoff 325 MM Other Uses 1.7 BN Cash Free…
Transformation Through Strategic Acquisitions & Divestitures Divested Malaysia Assets For 2.1 BN* Acquired Gulf of Mexico Assets for 2.3 BN Strategic Exit from Malaysia Simplifies Portfolio MP GOM: 961 MM(1) LLOG: 1.375 BN…
Unlocking Value With Multiple Transactions Accretive Transactions with Attractive Valuation Metrics Divestiture Proceeds Acquisitions Cost Acquiring Assets at Lower EBITDA & Free Cash Flow Multiples Than Malaysia Divestiture 2.3 BN…
Repositioning Murphys Portfolio Increasing Margins with Oil-Weighted, Gulf of Mexico Production & Reserves QUALITY SCALE UPSIDE GOM EBITDA / BOE vs Oil Reserves (2P) 2019E Production, MBOEPD 2019 2023 FCF vs Oil Reserves (2P) 67 37…
Murphys Revitalized Gulf of Mexico Assets 2019 2023 Estimated Gulf of Mexico Production Delivering Free Cash Flow with Efficient 90 Capital Spending 85 15 83 80 Provides Annualized Average Production of 85 MBOEPD 70 LLOG 14…
Long-Term Strategy For Cash Flow Generation & Production Growth Providing Solid Five-Year Production Growth 2018A 2023E Production Growth Total Production CAGR 8% 250 SE Asia Oil Production CAGR 12% Other US Balancing Onshore /…
Positioning Company for Long-Term Value Creation Transforming Portfolio with Focus on Western Hemisphere Assets Acquiring 2P Reserves at Attractive Price Accelerating CAGR on Long Term Oil-Weighted Production Continuing the…
ONSHORE APPENDIX MURPHY OIL CORPORATION w w w .m u rphyoi l corp.com N YSE: M U R 14
MURPHY CONTINUES TRANSFORMATION WITH STRATEGIC DEEP WATER, OIL-WEIGHTED GULF OF MEXICO ACQUISITION APRIL 23, 2019 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER MURPHY OIL CORPORATION w w w .m u rphyoi l corp.com N YSE: M…